Monday, April 10, 2017

Chinese billionaire Jack Ma says the US wasted trillions on warfare instead of investing in infrastructure


Jack Ma, Chairman of Alibaba Group at the World Economic Forum in Davos, Switzerland. Alibaba's Jack Ma: Today technology can empower small businesses Wednesday, 18 Jan 2017 | 12:30 PM ET | 02:31 Alibaba founder Jack Ma fired a shot at the United States in an interview at the World Economic Forum in Davos, Switzerland. Ma was asked by CNBC's Andrew Ross Sorkin about the U.S. economy in relation to China, since President-elect Donald Trump has been talking about imposing new tariffs on Chinese imports. Ma says blaming China for any economic issues in the U.S. is misguided. If America is looking to blame anyone, Ma said, it should blame itself. "It's not that other countries steal jobs from you guys," Ma said. "It's your strategy. Distribute the money and things in a proper way." He said the U.S. has wasted over $14 trillion in fighting wars over the past 30 years rather than investing in infrastructure at home. To be sure, Ma is not the only critic of the costly U.S. policies of waging war against terrorism and other enemies outside the homeland. Still, Ma said this was the reason America's economic growth had weakened, not China's supposed theft of jobs.

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